San Antonio-based Xpel reports rising revenue, income in first quarter

Frank Fertitta teaches Brad Kossow and Kevin Williams how to install clear paint and headlight protection kits at Xpel Technologies Corp. The company reported that it earned revenue of $11.3 million in the quarter, an increase of 39 percent from $8.1 million in first quarter 2015. less

Frank Fertitta teaches Brad Kossow and Kevin Williams how to install clear paint and headlight protection kits at Xpel Technologies Corp. The company reported that it earned revenue of $11.3 million in the ... more

Photo: Express-News File Photo

Photo: Express-News File Photo

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Frank Fertitta teaches Brad Kossow and Kevin Williams how to install clear paint and headlight protection kits at Xpel Technologies Corp. The company reported that it earned revenue of $11.3 million in the quarter, an increase of 39 percent from $8.1 million in first quarter 2015. less

Frank Fertitta teaches Brad Kossow and Kevin Williams how to install clear paint and headlight protection kits at Xpel Technologies Corp. The company reported that it earned revenue of $11.3 million in the ... more

Photo: Express-News File Photo

San Antonio-based Xpel reports rising revenue, income in first quarter

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San Antonio-based Xpel Technologies Corp. said its revenue and profit increased in the first quarter as it expanded its presence in international markets.

The company, which manufactures films to protect auto paint and headlights, reported that it earned revenue of $11.3 million in the quarter, an increase of 39 percent from $8.1 million in first quarter 2015. Net income rose by 3.7 percent, to about $697,000 from $672,000 the year before.

“We’re pleased. We had a great start to 2016,” CEO and President Ryan Pape said in a conference call Thursday. “The first quarter was slightly stronger than we expected.”

Xpel’s sales increased in Canada, the United Kingdom, continental Europe and China, Pape said. The company plans to open a “distribution presence” in the Netherlands, he said, that “will better position us for going after the continental European market.”

In December, Minnesota-based 3M filed a patent infringement lawsuit against Xpel, saying that the company’s XPF paint protection film infringed on one of its patents. Xpel denied that it infringed on 3M’s parent and said it would “vigorously defend” itself in the lawsuit.

“We have an enormous effort around the litigation,” Pape said in the conference call. “We think we’re very well-positioned.”